Quantinno Capital Management LP Has $428,000 Position in Provident Financial Services, Inc. (NYSE:PFS)

Quantinno Capital Management LP raised its stake in Provident Financial Services, Inc. (NYSE:PFS) by 9.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,042 shares of the savings and loans company’s stock after acquiring an additional 1,954 shares during the period. Quantinno Capital Management LP’s holdings in Provident Financial Services were worth $428,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Provident Financial Services by 51.6% in the second quarter. Dimensional Fund Advisors LP now owns 7,787,088 shares of the savings and loans company’s stock worth $111,740,000 after purchasing an additional 2,649,643 shares during the period. Hsbc Holdings PLC grew its stake in Provident Financial Services by 4,245.5% during the second quarter. Hsbc Holdings PLC now owns 3,996,954 shares of the savings and loans company’s stock worth $56,877,000 after buying an additional 3,904,975 shares in the last quarter. American Century Companies Inc. increased its holdings in Provident Financial Services by 9.7% in the 2nd quarter. American Century Companies Inc. now owns 2,550,462 shares of the savings and loans company’s stock valued at $36,599,000 after buying an additional 225,839 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Provident Financial Services by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,792,792 shares of the savings and loans company’s stock valued at $33,274,000 after buying an additional 102,737 shares in the last quarter. Finally, Systematic Financial Management LP lifted its holdings in shares of Provident Financial Services by 125.3% during the 2nd quarter. Systematic Financial Management LP now owns 1,690,155 shares of the savings and loans company’s stock worth $24,254,000 after acquiring an additional 939,951 shares during the period. 71.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PFS has been the topic of a number of recent analyst reports. StockNews.com raised shares of Provident Financial Services from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Hovde Group started coverage on Provident Financial Services in a report on Friday. They set an “outperform” rating and a $25.00 price target for the company. Finally, DA Davidson upped their price objective on Provident Financial Services from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Provident Financial Services Stock Up 0.2 %

Shares of NYSE:PFS opened at $20.36 on Monday. Provident Financial Services, Inc. has a 52-week low of $13.07 and a 52-week high of $22.24. The company has a market capitalization of $2.66 billion, a PE ratio of 19.58 and a beta of 1.06. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.03 and a current ratio of 1.03. The company has a fifty day moving average of $20.10 and a 200-day moving average of $17.90.

Provident Financial Services (NYSE:PFS) last issued its earnings results on Tuesday, October 29th. The savings and loans company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11). Provident Financial Services had a return on equity of 5.21% and a net margin of 9.55%. The firm had revenue of $349.38 million during the quarter, compared to analyst estimates of $211.25 million. During the same period in the previous year, the company earned $0.38 EPS. On average, equities analysts predict that Provident Financial Services, Inc. will post 1.84 EPS for the current fiscal year.

Provident Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.24 per share. The ex-dividend date was Friday, November 15th. This represents a $0.96 annualized dividend and a yield of 4.72%. Provident Financial Services’s dividend payout ratio is presently 92.31%.

Insiders Place Their Bets

In related news, EVP James A. Christy sold 3,500 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $20.88, for a total transaction of $73,080.00. Following the completion of the transaction, the executive vice president now directly owns 34,254 shares of the company’s stock, valued at $715,223.52. This trade represents a 9.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.29% of the company’s stock.

About Provident Financial Services

Provident Financial Services, Inc operates as the bank holding company for Provident Bank that provides various banking products and services to individuals, families, and businesses in the United States. Its deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.